Basic optimality results for Bayesian group replacement policies

Basic optimality results for Bayesian group replacement policies

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Article ID: iaor20042992
Country: Netherlands
Volume: 32
Issue: 3
Start Page Number: 283
End Page Number: 287
Publication Date: May 2004
Journal: Operations Research Letters
Authors:
Keywords: decision theory
Abstract:

The optimal structure of Bayesian group replacement policies for a parallel system of n items with exponential failure times and random failure parameter is presented. The paper contains a proof of the fact that it is optimal to observe the system only at failure times. For the case of two items operating in parallel the exact form of the policy is derived.

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